Vinted
 | |
| Company type | Private |
|---|---|
| Industry | Recommerce |
| Founded | 2008 |
| Headquarters | Vilnius , Lithuania |
Area served | |
Key people | Thomas Plantenga (CEO) |
| Products | Used clothing |
Number of employees | 570 (Lithuania) (2020) |
| Website | www |
Vinted is a Lithuanian online marketplace and community that allows its users to sell, buy, and swap secondhand clothing items and accessories.[1]
History
In 2008, Milda Mitkute and Justas Janauskas co-founded Vinted in Vilnius, Lithuania, testing a prototype site where Lithuanian women could trade their clothes. After recruiting a couch surfing guest of Janauskas to help with advertising and promotions, the two expanded their business into Germany, where it operates under the brand Kleiderkreisel. In 2010, Vinted launched in the United States. Since their launch, Accel Partners, Burda Principal Investments, and Insight Venture Partners have invested in the company.[2]
In 2012, Vinted partnered with Lemon Labs, a Lithuanian-based app development consultancy to launch their mobile app.[3] In a case study, Lemon Labs reported that before the app was released, 80% of the traffic came from desktop web and the rest from mobile web browsing. Within a day of its release, Vinted saw as much as a 30% traffic increase with the app.
In 2016, Vinted's management team was joined by Thomas Plantenga as a strategy consultant. He has since become CEO of the company.[4]
In October 2020 Vinted acquired United Wardrobe, a Dutch competitor.[5]
Business
Available on iOS, Android, and desktop browsers, Vinted provides users a platform to sell their clothing and accessories, purchase or swap from other users, and communicate with members using the forums. Since their launch, Vinted has expanded into men's and children's clothing. According to their website, Vinted has 20 million members, with 15 thousand members joining every day.[6] As of 2020, Vinted is available in twelve countries.
Fees
Unlike its competitors that charge insertion and final sale fees, Vinted charges buyers a small "service fee" per purchase. They also charge sellers a fee every time they "push" their listings to the top of the catalog.[7]
References
- ^ "The story behind Lithuanian secondhand marketplace Vinted". Tech.eu. 2015-01-15. Retrieved 2017-07-19.
- ^ "Vinted - Investors | crunchbase". www.crunchbase.com. Retrieved 2017-07-19.
- ^ "Vinted Case Study". Lemon Labs. Retrieved 2017-07-19.
- ^ Knowles, Kitty. "Step Into Vinted: The World's Largest Pre-Loved Fashion Marketplace". Forbes. Retrieved 2020-12-31.
- ^ "Second-hand fashion consolidation: Lithuanian unicorn Vinted acquires Dutch competitor United Wardrobe". Silicon Canals. Retrieved 2020-11-09.
- ^ "About Vinted". Vinted. Retrieved 2018-06-19.
- ^ https://www.vinted.com/help/342-service-fee-on-vinted